OpenWeb CEO Dispute Escalates as Founder Refuses to Step Down

OpenWeb, a New York-based tech company valued at $1.5 billion, is facing a leadership crisis as its founder and CEO, Nadav Shoval, refuses to accept his replacement by board chairman Tim Harvey. Following the board's announcement of the leadership transition during a company-wide meeting, Shoval publicly disputed the decision, claiming the board breached his contract and acted against the company's best interests. He stated, 'The board has falsely stated that I am stepping out of my role as CEO,' emphasizing his intent to remain and fight for OpenWeb's mission. In response, Harvey confirmed his new role as CEO and urged employees to disregard Shoval's message, asserting that the transition process would proceed as planned. The conflict highlights a significant rift within the company, which serves over 100 million users and has secured $393 million in funding to date. The situation raises concerns about OpenWeb's future stability amidst this internal turmoil.